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<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.</p>
In the fast-paced world of forex trading, choosing the right broker is crucial. AvaTrade and RoboForex are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between AvaTrade and RoboForex across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated AvaTrade and RoboForex, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, AvaTrade earned a higher trust rating than RoboForex.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that RoboForex has overall lower trading costs than AvaTrade.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both AvaTrade and RoboForex offer copy trading.
A broader range of CFD instruments provides more trading opportunities. AvaTrade offers a greater variety of instruments compared to RoboForex:
For those interested in trading cryptocurrencies, AvaTrade offers 30 cryptocurrencies, while RoboForex offers 0 cryptocurrencies. Therefore, AvaTrade is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that RoboForex charges a withdrawal fee and AvaTrade does not. Overall, AvaTrade has better deposit and withdrawal processes than RoboForex.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
AvaTrade has better educational support than RoboForex. Both AvaTrade and RoboForex offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that AvaTrade offers better research analysis than RoboForex and that both AvaTrade and RoboForex offer frequent webinars.
As one of the best all-around Forex brokers, AvaTrade will be an attractive choice for most traders. AvaTrade has low trading fees, a wide range of trading instruments, and a choice of four different trading platforms. AvaTrade offers some of the best trading tools in the industry, alongside a world-class selection of educational and market analysis materials.
AvaTrade is also popular for its award-winning mobile app which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
One major drawback for Ugandan traders considering AvaTrade is that they are onboarded through AvaTrade’s BVI-regulated entity, which means that they are not as well protected as their international counterparts.
With a wide range of financial instruments available on four different trading platforms (MT4, MT5, cTrader, and R Stock Trader), RoboForex appeals to traders who value low trading costs and a broad range of account choices.
RoboForex offers four live CFD accounts with a minimum deposit of only 10 USD. The commission-free CFD accounts have a spread of 0.00 pips, which is slightly wider than other brokers, but traders can choose to trade in smaller trade sizes, known as micro-lots. The ECN and Prime Accounts have spreads that start at 0 pips (EUR/USD) but commissions of only 4 USD and 2 USD, respectively - some of the lowest in the industry.
RoboForex also stands out for the number of financial instruments on offer, including over 12,000 stocks, 1,000 ETFs, 100 commodities, 40 Forex pairs, 26 crytpocurrencies, and indices. Support is offered for numerous trading platforms, including industry favourites such as MT4, MT5, and cTrader in addition to its intuitive and easy-to-set up R-trader.
In conjunction with third-party provider, Claws and Horns, RoboForex's educational and market analysis materials are well-organized and in-depth, a real benefit to beginner traders.
One drawback is that although RoboForex is an international broker, it is only regulated by the IFSC in Belize, which means that regulatory oversight is weaker than other brokers. Additionally, traders should be aware that RoboForex charges high withdrawal fees.
For more detailed reviews, please read our comprehensive assessments of AvaTrade and RoboForex.
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
